Ballentine Partners LLC Purchases 2,570 Shares of Alibaba Group Holding Limited $BABA

Key Points

• Ballentine Partners LLC increased its stake in Alibaba Group by 17.5% during the second quarter, acquiring an additional 2,570 shares for a total holding of 17,221 shares valued at $1,953,000.
• Several analysts raised their price targets for Alibaba Group, with Bank of America increasing it to $195.00 and Susquehanna to $190.00, both maintaining a "buy" rating.
• As of now, Alibaba Group has a market capitalization of $421.16 billion and its shares have fluctuated between a 1-year low of $80.06 and a high of $180.16.

Ballentine Partners LLC raised its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 17.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,221 shares of the specialty retailer's stock after purchasing an additional 2,570 shares during the period. Ballentine Partners LLC's holdings in Alibaba Group were worth $1,953,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of BABA. Mainstream Capital Management LLC raised its stake in shares of Alibaba Group by 15.3% in the 2nd quarter. Mainstream Capital Management LLC now owns 7,942 shares of the specialty retailer's stock valued at $901,000 after buying an additional 1,055 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Alibaba Group by 1.0% during the 2nd quarter. Fifth Third Bancorp now owns 9,779 shares of the specialty retailer's stock worth $1,109,000 after purchasing an additional 94 shares in the last quarter. Eaton Financial Holdings Company LLC acquired a new stake in Alibaba Group in the 2nd quarter valued at about $899,000. Hoey Investments Inc. boosted its stake in shares of Alibaba Group by 2,935.7% in the 2nd quarter. Hoey Investments Inc. now owns 425 shares of the specialty retailer's stock valued at $48,000 after purchasing an additional 411 shares during the last quarter. Finally, CHICAGO TRUST Co NA grew its position in shares of Alibaba Group by 8.0% during the 2nd quarter. CHICAGO TRUST Co NA now owns 2,624 shares of the specialty retailer's stock worth $298,000 after buying an additional 194 shares during the period. 13.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on BABA shares. Susquehanna lifted their price objective on shares of Alibaba Group from $175.00 to $190.00 and gave the stock a "positive" rating in a research note on Thursday, September 18th. Bank of America raised their target price on shares of Alibaba Group from $168.00 to $195.00 and gave the stock a "buy" rating in a report on Wednesday. Citigroup raised their target price on shares of Alibaba Group from $148.00 to $187.00 and gave the stock a "buy" rating in a report on Tuesday, September 2nd. Jefferies Financial Group raised their target price on shares of Alibaba Group from $165.00 to $178.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. Finally, Benchmark lifted their price objective on shares of Alibaba Group from $176.00 to $195.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $172.81.

Alibaba Group Price Performance

Shares of BABA opened at $176.66 on Thursday. The company has a market cap of $421.16 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 2.00 and a beta of 0.11. Alibaba Group Holding Limited has a 1-year low of $80.06 and a 1-year high of $180.16. The company's fifty day simple moving average is $132.17 and its 200 day simple moving average is $124.18. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19.

Alibaba Group Profile

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.

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